Why I don’t trust Jim Morgan’s Wood Profits
Jim Morgan’s Wood Profits raised my suspicions when I first came across the woodprofits.com website about 4 months ago and although I’m not saying Wood Profits is a scam there are many components of its promise that has me questioning its legitimacy.
What is “Wood Profits”?
Wood Profits is a book or more specifically a guide to achieving success with woodworking and turning your hobby into a very lucrative business, or so their site claims.
They go on to add that this success can be achieved with little to no startup capital and no high-end equipment while working only 20 hours a week. On top of it all, they claim all of this can be done while having almost no previous woodworking experience.
Great! Sign me up, no wait, maybe not just yet.
Let’s take another look first.
At first glance
Landing on the site’s homepage you are met with a very captivating heading suggesting you could earn an income of $90000 – $150000 while woodworking with, wait for it, a measly $1000 or less start-up capital, which is later, as you read on, reduced to “no capital”.
At this point, I am already questioning its plausibility because as we all know, when something sounds too good to be true it often is.
They do however make it very clear in their disclaimer that they can in no way guarantee that you could or would make the sum of money they so provocatively swing before your eyes in their attention-grabbing homepage and that this amount is just an estimate.
This does seem like a fair statement to me because let’s face it, just buying a book is not going to make you money. There is still a great deal of work to be done thereafter like source materials, build the products and ultimately sell these products at a profit. This is easier said than done.
As we explore the site
So after the promise of high returns with a minimal investment you proceed to read the inspirational story by Jim Morgan. A gray, old, spectacle wearing male as the suggestive picture would have you believe but after doing a quick google image search you will find that this is a stock image from istockphoto.com called smiling man. So either Jim Morgan is not only a woodworking genius but also a model. Though highly unlikely, it is possible. So let’s keep going.
Continuing through the site you will be met with images of what I am lead to believe should seem like “Jim” working in his small workshop. After closer inspection, you will probably come to the same conclusion I have, which is that although these images have gray, sometimes bearded men wearing spectacles, they are indeed, not the same person.
What woodprofits.com claim:
You can make up to $150000 a year woodworking with little or no start-up capital, no expensive equipment, and no experience.
If this is true then there are many great woodworkers out there that are completely missing the plot.
Equipment aside (which in the wonderful world of professional woodworking can tally up to exorbitant amounts), let’s take a look at a random scenario posed by myself.
If you sold a specific product for $100.00 at a very impressive 40% profit. It would mean you would need to produce 3750 units of that product a year to make $150000.00. That’s roughly 72 units a week. According to “Jim”, you will only be working 20 hours a week which means you will need to produce an object every 17 mins.
This is a tall order even for a more experienced woodworker with a fair amount of equipment and yet “Jim” claims it can be achieved with no experience. Why? Because upon buying the product you will receive:
- one-on-one coaching
- a guide to selling wooden furniture.
- plans for wood products
- how to get customers etc…
and let’s not forget, access to his 1 secret. The critical first step, the one secret which without you don’t stand a change.
So everyone else with experience, plans, and sales know-how, who has tried to make that kind of money woodworking and have failed, have only been doing that one thing wrong?
The last thing that has me questioning the validity of their pitch is the string of credentials they have. They claim to have been featured on “USA Today” and “CNN” and even boast a “Home Business Reviews Award” but I have yet to find any trace of these achievements anywhere else but on their site.
Woodprofits.com offer a 60-day money back guarantee if you are not completely satisfied with their product but if the only means of contacting them is to submit a “ticket” through their website, I am doubtful that the act would be as simple as it is being made out to seem.
At the end of it all, it is a very alluring and captivating pitch. Will it make you wealthy? Though possible, it probably won’t.
Like most things in life, woodworking is something that takes hard work, dedication, perseverance and time. Why would potential clients buy your product if they can buy it from someone who has the skill to produce the same product but of a higher quality.
A few other things that are suspicious.
- Why would a woodworker need a hard hat?
- Why hasn’t their “soon to go up” offer not changed in the 4 months since I first came across the site.
- Jim’s signature is done in a font called Scriptina Pro.
Why so many positive reviews?
So why are there so many reviews promoting this product? Simple, these are likely all affiliate marketers. This means for every sale woodprofits.com generates through an affiliate site (the site promoting their product) the affiliate receives a commission. Wood Profits is currently offering a very impressive 75% commission and it is for this reason why people are jumping at the opportunity to promote their product.
Something else that has me worried is the fact that all the reviews I found on Youtube either had no comments at all or just a bunch of affiliate spammers trying to get a cut of the pie.
While affiliate marketing in itself can be a great business opportunity, what these people are doing can be considered unethical.
If you would like to learn more about affiliate marketing and how to build your own website, I suggest you check out Wealthy Affiliate.
While I do believe that upon purchasing this guide from woodprofits.com, you will receive a “guide to making money with woodworking” but whether or not it will make you rich, I find highly doubtful. I personally will not be spending my hard earned money on something that makes such a grand claim with so many red flags and no references to back it up.
Making money with your hobby is possible but being realistic and working hard is key.